Category Archives: Financial Independence

The power and benefits of FU money

FU money

Among the many stages towards financial independence, one of the most important is accumulating enough F-you (FU) money. FU money is when you have accumulated enough savings to enable you to temporarily leave your job without worrying about where the money your next bills will come from. Theoretically, you will be able to sustain your current lifestyle for a certain period of time which you are comfortable with; for example for six months, up to a couple of years or even several years. Here are some of the benefits which workers can obtain due to the power of FU money. Continue reading

TV Show Review: How to retire at 40 on Channel 4

On the mainstream media, it is quite rare to find anything related to gaining Financial Independence (FI) or early retirement. This is why I was very excited when I found out that Channel 4 (UK) would be showing a show called How to retire at 40. I assumed that the programme, presented by Anne Richardson, Rhik Samadder and Sophie Morgan would give a few of the secrets already well known and discussed in the FI community. However, I was really disappointed with the show and Continue reading

Emergency fund: Why you need one to build wealth

emergency fund“Anything that can go wrong, will go wrong” – Murphy’s Law. An emergency fund is very important and considered to be the first step of building wealth. The definition of an emergency fund is a fund or a collection of funds which can be used to cover unexpected expenses that are certain to occur to most people. As Murphy’s Law says: “Anything that can go wrong, will go wrong”. Continue reading

How to track your net worth – Useful guide

Calculate your net worth

It is important to know your net worth if you want a clear picture of your financial situation.  This is a guide for finding out and tracking your net worth. A free net worth tracker spreadsheet and tutorial video are also provided. Personal net worth is defined as the value all the assets which an individual owns minus a total of the person’s liabilities. Continue reading